New high for Google share price

<p>Shares in Google are at a record high.</p>

Google's share price has hit a new record high and there is speculation within the industry that it could be set to take over from Apple.

Its shares hit an all-time closing high of $821.50 (£541.90) yesterday and some commentators have suggested it is only a matter of time before the share price breaks through the $1,000 barrier.

Eric Kuby, chief investment officer at North Star Investment Management in Chicago, told Reuters that Google is the "big momentum" stock at the present time.

He said: "There's a lot of money that likes the tech sector and I think Google has kind of taken over from Apple."

Sanford Bernstein and Credit Agricole Securities are among those speculating it will not be long until Google's share price is above the $1,000 mark.

Google's share price has been steadily rising over the course of the last 12 months and the technology company, which has branched out into mobile phones and laptop computers in recent years, looks to be going from strength to strength.

Learn about the sterling and forex trading at City Index.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.